Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December:

Cicchetti Corporation

Comparison ofActual Results to Planning Budget

For the Month Ended December 31Actual ResultsPlanning BudgetVariancesCustomers served36,00030,500Revenue ($5.0q)$180,900$152,500$28,400FExpenses:Wages and salaries ($37,300 + $1.8q)105,40092,20013,200USupplies ($0.8q)28,30024,4003,900UInsurance ($14,300)14,65014,300350UMiscellaneous expense ($7,300 + $0.3q)19,95016,4503,500UTotal expense168,300147,35020,950UNet operating income$12,600$5,150$7,450F

Required:

Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None".

Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating resu Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Planning Actual Results Budget Variances Customers served 36,000 30,500 Revenue (35.0q) $180,900 $152,500 $28,400 F Expenses: Wages and salaries ($37,300 + $1.8q) 105,400 92,200 13,200 U Supplies ($0.8q) 28,300 24,400 3,900 Insurance ($14,300) 14,650 14,300 350 Miscellaneous expense ($7,300 + $0.3q) 19,950 16,450 3,500 U Total expense 168,300 147.350 20,950 Net operating income $ 12,600 $ 5,150 $ 7,450 Required: Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None". Cicchetti Corporation Flexible Budget Performance Report Part 1 For the Month Ended December 31 Actual Revenue and Flexible Results Spending Variances Budget Customers served Expenses: Total expenses 0 Net operating income Cicchetti Corporation Flexible Budget Performance Report Part 2 For the Month Ended December 31 Flexible Planning Budget Activity Variances Budget Customers served Expenses: Total expenses Net operating income